Insurers will always charge you more for a policy you take out on another life than for a policy you take out on your own life. The reason is to do with the risk of fraud.
More people attempt to commit fraud by claiming on another’s life (rather than, say, faking their own death). Insurers have to protect themselves from this kind of fraud, or we wouldn’t be able to offer funeral insurance at all because it would be too expensive. So we have to make sure there’s a balance between the cost of the insurance policy for you, and the risk of someone only taking out the policy as a get-rich-quick scam.
At Sanlam Indie, we're using cutting-edge technology to transform the industry and deliver financial services that actually work for you.
No jargon. No messy paperwork. Just world-class products that are simple to use, easy to understand, and incredibly rewarding - allowing more ways for you to create and protect wealth.
Copyright © Sanlam Indie 2022. All Rights Reserved. Sanlam Indie's product offering is underwritten by Sanlam Life Insurance Limited, a licensed life insurer & financial services provider. Sanlam Indie is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06. Sanlam Life Insurance Limited is an authorised FSP (No. 2759). Address: 1st Floor Glacier Place, 1 Sportica Crescent, Tygervalley, Cape Town, 7530